EURO, JAP YEN and EURO-YEN
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Read our current comments and trade recommendations on EUR-USD, USD-JPY and EUR-JPY by registering at http://www.kshitij.com/fxthoughts/fxthoughts.shtml#register

Our comments on Dollar-Swiss, Sterling Pound and Australian Dollar are given below
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$-Swiss @ 1.2409/14....Support at 1.2375-50
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R: 1.2436 / 1.2460
S: 1.2375 / 1.2350 / 1.2320
$-Swiss fell some more during the day and we booked profit at 1.2408 on Short which was entered at 1.2510 on Friday. It hit a low of 1.2396 during the day. There is some Support today at 1.2375, which is the statistically projected Max Low for the day. If that is broken, there could be a further fall towards 1.2350. A break below this is unexpected as of now. However if broken, there could be a fall to 1.2320. On the upside the Resistances are coming in at 1.2436 and then at 1.2460. The bias for the pair is currently bearish but we don’t expect much fall below 1.2350 on a closing basis. The weekly bias is neutral while 1.2350 holds.

 
 Cable @ 1.8959/64....Bullish, but bearish below 1.8900
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R: 1.8986 / 1.9010 / 1.9041
S: 1.8940 / 1.8900 / 1.8850
The Cable had a rally to a high of 1.8986 during the day but has once again fallen down as it is continuously consolidating near 1.8975-40 during the day. Now a break of this small range would give the pair fresh direction for the day. A move above 1.8986 could trigger a rally towards 1.9010 or 1.9041, the statistically projected Max High for the day. On the downside the Support is at 1.8940 and then at 1.8900. The statistically projected Max Low for the day is at 1.8850. The pair is bullish biased for the week while it is above 1.8850 on a closing basis. The bias for the day is bullish while above 1.8900.

NOTE however, that a fall below 1.8900 could be very bearish for the Cable.

 
 Aussie @ 0.7685/9....Buy dip
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R: 0.7700-02 / 0.7730
S: 0.7664 / 0.7649
The Aussie was positively inclined last week and held above the important Support of 0.7616. It closed the week above its important resistance of 0.7680. Now while that holds on a Day Close basis the pair could rally towards 0.7750. Note that 0.7750 –0.7850 is a big Resistance zone where 4 significant tops have been made since Apr-05, each resulting in a fall of 200 pips. These tops are at 0.7843 (Apr-05), 0.7758 (Aug-05), 0.7790 (Sep-06) and at 0.7795 (May-06).

For today the Supports to watch are at 0.7664 and then at 0.7649, the statistically projected Max Low for the day. The Resistances on the upside are at 0.7700-02 and then at 0.7730, the statistically projected Max High for the day. The bias for the pair is bullish (intraday and week) while 0.7650 holds. A buy on a dip to 0.7660 with a stop below 0.7640 is recommended for intraday today.

Order:
Buy AUD 20K @ 0.7660, SL 0.7639 (up from 0.7637), TP 0.7713


Happy Trading!